Flex Ltd. (NASDAQ:FLEX) Director Lay Koon Tan Sells 50,000 Shares

Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares of the company's stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Flex Stock Performance

FLEX traded up $0.12 on Friday, reaching $42.51. The company had a trading volume of 1,506,046 shares, compared to its average volume of 3,842,607. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.41. The stock has a market cap of $16.29 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.58 and a beta of 1.10. Flex Ltd. has a fifty-two week low of $25.27 and a fifty-two week high of $45.10. The company's fifty day moving average is $40.64 and its 200 day moving average is $36.29.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. As a group, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. purchased a new position in Flex during the third quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Flex during the 4th quarter valued at $35,000. R Squared Ltd purchased a new stake in shares of Flex in the 4th quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Flex during the 4th quarter valued at about $38,000. 94.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp began coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $41.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective for the company. Craig Hallum boosted their target price on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised shares of Flex from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $44.33.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.